Gillis once drew attention for challenging George Foreman to a charity boxing tournament, saying, I'm trying to show that old people can do these things. When Gillis announced his intention to retire in 2002, he said "I want to go out like Joe DiMaggio," the baseball legend who retired at the top of his game. Gillis masterminded a $500 million fund-raising campaign and saw the university's endowment more than double to a record $3.37 billion. Gillis, a well-known economist who consulted with numerous countries on economic policy, returned to teaching after retiring from the presidency in 2004.